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Mazda announces $11 billion EV spending plan, battery production in consideration

The Japanese automaker Mazda Motor Corp said on Tuesday that it was considering investing in the production of batteries in addition to its $10.6 billion spending plan to electrify its vehicles.


As automakers around the world spend billions of dollars to increase battery and EV production in response to stricter environmental regulations, the company also increased its sales target for electric vehicles (EVs) to up to 40% of its total global sales by 2030.


The investment plan by Mazda comes in the wake of comparable declarations made this year by local competitors Toyota and Honda, who have been under fire from environmentalists and investors with a green activist agenda for being hesitant to adopt electrification.


‘We’ll encourage the full introduction of battery-powered electric vehicles and think about funding battery production. By 2030, we predict Mazda’s global EV sales ratio to increase to a range between 25% and 40% ,’ in a statement, Mazda revealed.


By 2030, it has previously set a 25% EV sales goal.


The latest prediction was in line with a larger industry trend, with consulting company Deloitte anticipating that by 2030, sales of electric vehicles will account for around 32% of all new auto sales globally.


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